During his two visit to India, British Prime Minister Boris Johnson is set to offer New Delhi help to cut its reliance on Russian oil and defence equipment in a visit that will test his diplomatic skills and provide some… Read More ›
Economy & Finance
G7 finance ministers pledge 24 billion for 2022 and beyond to Ukraine
Finance ministers from the Group of 7 wealthy countries said, together they have pledged additional support to Ukraine in excess of $24 billion for 2022 and beyond; they also said, they were prepared to do more as and when required…. Read More ›
In March, ‘Panicked’ Russians Withdrew $9.8 Billion In Foreign Currency From Banks
Due to the severe financial western sanctions on Russia over its invasion of Ukraine, Russian families withdrew $9.8 billion in foreign currency from their accounts in March, while banks slashed new corporate lending by approximately one-third, according to the coutnry’s central bank. “The… Read More ›
Crypto Sector Is Being Held Back By Bitcoin’s ‘Tribalism,’ Says Ripple’s CEO
According to the CEO of blockchain firm Ripple, “tribalism” around bitcoin and other cryptocurrencies is dragging back the entire $2 trillion sector. “Polarization isn’t healthy in my judgement,” Ripple CEO Brad Garlinghouse said in a CNBC-hosted fireside chat at Paris… Read More ›
IMF Says Asian Growth Prospects Clouded By China’s Spiking Covid Cases, And Ukraine War
The International Monetary Fund said on Wednesday that rising Covid cases in China and the turmoil in Ukraine represent obstacles for Asia’s growth. “Asia is clearly facing headwinds, both from the war in Ukraine but also from the lingering effects of… Read More ›
Elon Musk willing to take Twitter private with own money
According to a report from the New York Post, Elon Musk is willing to invest between $10 billion and $15 billion of his own money to take Twitter Inc private. Musk, Twitter’s second-biggest shareholder, has a 9.1% stake in the company…. Read More ›
TSMC raises $3.5 billion for Arizona chip plant
A term sheet from TSMC shows that the chip giant has raised $3.5 billon in bonds for its new plant in Arizona. TSMC, the world’s largest contract chip-maker, has commenced constructing a chip plant at Arizona last year. It intends to… Read More ›
Sri Lankan Government Requests Emergency Funding From The IMF
As bailout talks began this week, Sri Lanka said it had requested emergency financial assistance from the International Monetary Fund (IMF). Following India’s representations, the international financial organisation will consider offering aid. Meanwhile, a major credit rating firm predicted “a series… Read More ›
UK Growth To By Slowest Among G7 Countries Due To Ukraine War
The industry had long anticipated the $100 per kilowatt-hour battery cell cost threshold as a sign that electric vehicles had attained price parity with their fossil-fuel counterparts. Economists suggest, however, that with rising gasoline prices and evolving consumer preferences, this… Read More ›
Electric Vehicle Sales Continue To Surge Despite Surging Battery Costs
Buyers from all over the world are lining up to buy electric vehicles this year, despite rising sticker prices, reversing a decade and a half of conventional wisdom that EV sales would only take off if battery costs fell below… Read More ›
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